AIG Spends $86,000 for a Hunting Trip in England

A short time ago, our Chairman and CEO Ed Liddy said that he has ordered the immediate cancellation of all outside meetings, conferences, and recognition events across AIG, except those that are required by law or that are deemed absolutely critical to sustain our ongoing business needs.

AIG now finds itself justifying yet another extravagant expenditure. This time it is $86,000 for an executive hunting trip in England. Company spokesman Peter Tulupman responded Wednesday morning by saying,

This was an annual event for customers of the AIG property casualty insurance companies in the U.K. and Europe, and planned months before the Federal Reserve Bank of New York’s loan to AIG.

AIG officials declined to say which AIG executives attended the trip, which reports have said racked up an $86,000 tab. News of the hunting trip surfaced just days after AIG received an additional $37.8 billion loan from the Federal Reserve, on top of a previous $85 billion emergency loan granted last month.

Apparently, this “outside meeting” is deemed absolutely critical to sustain their ongoing business needs.